You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App

NEW SENS search and JSE share prices

More about the app

Stocks up, Kumba jumps as prices strengthen

“Resources are definitely the driving force today”

South African shares climbed on Monday led by mining companies such as Kumba Iron Ore which rose on higher iron ore futures.

Kumba was up 2.5% to R161.71 as a restocking beef up has driven up prices by 20% since April.

“Everything is up slightly but the resources are definitely the driving force today … commodity prices are generally stronger and there’s just a bit of kick coming through there,” said Desmond Reilly a trader at PSG Securities.

Oil producer Sasol rose as high as R463 on worries of turmoil in the Middle East but pared gains and slid to 0.75% to R455.19, as the dollar firmed.

Private hospital operator Netcare topped the All-share index 6% to R41.60 after reporting a nearly 20% rise in half-year profits.

Other gainers on the bourse were Pioneer Food Group , which rose 5.61% to R190.10 after posting a 39% jump in half-year profit.

The JSE Top-40 index was up 0.68% at 48,262 and the broader All-share index gained 0.71% to 54,409.

Mining heavyweight BHP Billiton fell 4.2% to R273 after spinning off and listing South32, which has a more diversified metals and mining portfolio.

The local unit of US Technology firm Net 1 UMPS lost 2% to R164.47 after it decided not to bid for a R10 billion contract to disburse welfare grants in South Africa.

Trading on the share market was robust with 242 million shares changing hands, well above last year’s daily average of 183 million.

COMMENTS   0

You must be signed in to comment.

SIGN IN SIGN UP

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
BTC / USD

Podcasts

INSIDER SUBSCRIPTIONS APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING PORTFOLIO TOOL CPD HUB

Follow us:

Search Articles:
Click a Company: